Condo Market Having Complications

I posted last week on LoCo Musings and LoCo Market Stats analyzing how much of our active real estate market in Loudoun is currently made up of ‘distressed’ sales, meaning short sales or foreclosures. What I found is that it varies depending where in the county you are, and also what home type you are looking at. Here’s the overall picture for the county:

Well, the percentage of foreclosures is the same, but there are more short sales in Ashburn. Let’s break that down by property type and see how that looks:

Single family (‘detached’) homes are faring better than other home types, with only 21% short sales and 2% foreclosure (which is closer to the county percentage of short sales, but well under the foreclosure percentage). The townhome market has more short sales and foreclosures, leaving only 65% of sales as ‘normal’, although the real difference is with the condo market, where a full 50% of listings in Ashburn are either short sales (35%) or foreclosure (15%).

Would you like to know how this specifically affects a particular neighborhood?Please fill out a quick form with a few property details and I can give you very detailed statistics.

One Response to “Condo Market Having Complications”

[…] sales, a full 37%, so only 58% of active townhome listings are non-distressed. The condo market, not unlike in Ashburn, has nearly half of active listings classified as short sales or foreclosures, the majority of […]

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About our blog

Michael and Heather Elias are full time real estate professionals and licensed REALTORS at Century 21 Redwood Realty. They sincerely hope you enjoy reading this blog, and would love the opportunity to work with you.

The data relating to real estate for sale on this web site comes from MRIS. Listing information comes from various brokers who participate in the MRIS IDX. Properties listed with brokerage firms other than LoCoMusings are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified. Data last updated 2017-09-26T17:15:07.797.